USOIL - Three Drives Pattern potential, Back to $44 and maybe 38

I believe USOIL is going back to $44 and then to $38 is very possible by sometime in July to August. Just an idea.

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Moving down like it should. Was hoping it would go slowly. Was going to buy another leg down. Need to wait for another pullback

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Here is the current channel blown-up compared to my chart

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Looks like one more leg down and then watch for reversal

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Leg down continued to bottom of the trend. Nice move if you are still holding from around $50

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updated channel chart

Trade closed: target reached

T1 reached, $44, now we watch and see if it continues trend or works it's way back up following the trend to the upside

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Updated chart, added some more information

psulion08

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psulion08